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More To Come

Tyler Durden's picture


Submitted by Mark J. Grant, author of Out of the Box,

I have long held the opinion that the markets, all of them, have been buoyed by what the Fed and the other central banks have done which was to pump a massive amount of money into the system. There are various ways to count this but about $16 trillion is my estimation. The economy in America has been flat-lining while the economies in Europe have been red-lining and while China has claimed growth their numbers did not add up and could not be believed.
In other words, the economic fundamentals were not supporting the lofty levels of the markets which had rested upon one thing and one thing alone which was liquidity. I have also stated often enough that the long awaited reversal would take place either due to an "event" or due to a change in the Fed's position where the liquidity was going to be stopped. In one of the clearest and most open meetings ever conducted by the Fed, in my opinion, they said quite clearly that the end to its liquidity operations was coming and while the postulated this and that if the markets did this and that the message was quite clear; we are going to unwind what we have we have done.
Yesterday was the first day of the reversal. There will be more days to come.
What you are seeing, in the first instance, is leverage coming off the table. With short term interest rates right off of Kelvin's absolute Zero there was been massive leverage utilized in both the bond and equity markets. While it cannot be quantified I can tell you, dealing with so many institutional investors, that the amount of leverage on the books is giant and is now going to get covered. It will not be pretty and it will be a rush through the exit doors as the fire alarm has been pulled by the Fed and the alarms are ringing. There is also an additional problem here.
The Street is not what it was. There is not enough liquidity in the major Wall Street banks, any longer, to deal with the amount of securities that will be thrown at them and I expect the down cycle to get exacerbated by this very real issue. Bernanke is no longer at the gate and the Barbarians are going to be out in force.
Yesterday was not pretty but today is likely to be worse. Gold is getting smashed, equity futures are down significantly, bonds are taking it on the chin and the only thing that is up is the Dollar. Then besides the Fed's announcement; China is a rose dying on the vine. Their overnight repo rate hit 25% as the fear is palpable in Asia between the collapse of the Everbright Bank and the antics in Japan. The yield on China's three year government bonds rose 12.5% last night while their flash PMI plunged to 48.2 which is the worst number in nine months.
Now you may be wondering what to do next. You will hear a lot of people in the media today saying that this is just a normal part of the market's cycle.
This is not the case.
The Fed has signaled its intentions very clearly. You should be taking profits, taking money off the table and building up your cash positions. Your supplier of opiates has just informed you that your drugs are going to get cut off and preparations need to be made because there is no other supplier of this opiated cash. You can accurately think of the world's central banks as a "cash cartel" and the distribution is being ended.
How bad it is going to be is uncertain but BAD, with capital letters, in my estimation. For four years we have lived on drug money supplied by the Fed and their colleagues and what the emperors' can give; they can take away.
Eventually Treasury yields will go back down because the Fed will be buying more bonds than the Treasury needs to issue but for now the "leverage issue" will overcome that reality. Mortgage rates will be heading higher, the Real Estate market is going to correct and the days of wine and roses are now behind us.
The party is over!
"It's my party, and I'll cry if I want to

Cry if I want to, cry if I want to

You would cry too if it happened to you"
             -Lesley Gore


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Thu, 06/20/2013 - 08:19 | 3674690 LawsofPhysics
LawsofPhysics's picture

Stop it.  There are no "markets" for true price discovery, aside from local black markets of course.  Now that greed and fraud are the status quo, possession is the law.

Thu, 06/20/2013 - 08:23 | 3674710 GetZeeGold
GetZeeGold's picture



To big to fail becomes to big to bail.


Now perhaps we'll find out what the real price is.

Thu, 06/20/2013 - 08:24 | 3674715 LawsofPhysics
LawsofPhysics's picture

Execute all these paper-pushers and political puppets.  Their labor is of no real value anyway.

Thu, 06/20/2013 - 08:27 | 3674720 flacon
flacon's picture



Thu, 06/20/2013 - 08:32 | 3674746 flacon
flacon's picture

10-Year Treasury 2.44 +0.07 +2.95%

Thu, 06/20/2013 - 08:53 | 3674823 Manthong
Manthong's picture

If FDR could have driven the price of gold down (he did not have the ability to) prior to EO 6102, he would have.

He did (devalue the dollar) by boosting the price of gold big time after he got his hands on most of it.

This time is different.. not from the perspective of the dictatorial elite, but from the knowledge and perspective of the citizenry.

..just sayin’

Thu, 06/20/2013 - 08:24 | 3674716 Dr. No
Dr. No's picture

I agree.  I laughed at Bill Gross talking about how the market misinterpreted bernanke.  No doubt bernake will keep the spigot on.  However, the algos counter noted "tapper" was published more often than "purchase moar" and therefore they dumped.  Its that simple.

Thu, 06/20/2013 - 08:25 | 3674721 LawsofPhysics
LawsofPhysics's picture

Another POMO day, we close green,  bank no sell on it.

Thu, 06/20/2013 - 08:26 | 3674723 Cunnial
Cunnial's picture

I don't think "Taper" was mentioned once, in the release or the Q&A... just saying. 

Still... Fuck you Bennie...

Thu, 06/20/2013 - 09:17 | 3674917 Dr. No
Dr. No's picture

Two nights ago, Cyberdyne upated the routine:  "Taper" = "Puzzled" = "margin call" , DO {SELL} for=ever.

Thu, 06/20/2013 - 08:27 | 3674726 Dr. Engali
Dr. Engali's picture

Actually the robots were confused by 'puzzled' and didn't know what to do so by default they withdrew liquidity.

Thu, 06/20/2013 - 08:45 | 3674794 Treason Season
Treason Season's picture

Wnat's puzzling you is just the nature of Satan's game.

Thu, 06/20/2013 - 09:28 | 3674946 Treason Season
Treason Season's picture



Thu, 06/20/2013 - 12:14 | 3675537 prains
prains's picture

satan made you do it.....

Thu, 06/20/2013 - 09:23 | 3674933 HardAssets
HardAssets's picture

Go long  Black Markets

Thu, 06/20/2013 - 08:19 | 3674697 Cunnial
Cunnial's picture

"China is a rose dying on the vine."... Huh? 

Thu, 06/20/2013 - 09:24 | 3674937 HardAssets
HardAssets's picture

I don't have a green thumb, but do roses grow on vines ?  Never bought a dozen of them that came that way.

Thu, 06/20/2013 - 11:45 | 3675457 tvdog
tvdog's picture

Yes, they do.

Thu, 06/20/2013 - 08:20 | 3674700 thismarketisrigged
thismarketisrigged's picture

u.s futures are only down slightly now in terms of pct pts.


europe is down over 2 percent across the board, and asia got clobbered.


im not going to be fooled by the futures, today we should see a -250 day on dow easily and -30 on s&p. there will be lots of panic and i will love watching it.

Thu, 06/20/2013 - 08:26 | 3674727 Bobbyrib
Bobbyrib's picture

I wouldn't be surprised to see the markets end up in the green. Then someone will check the Bloomberg terminal and the Fed will be logged in at maximum capacity.

Thu, 06/20/2013 - 08:44 | 3674784 flacon
flacon's picture

I think we will close below the 50 dma on the Dow and S&P. That is going to trigger a whole NEW wave of selling as technicals get obliterated and even the bulls agree that we are in a bear market now. 

Thu, 06/20/2013 - 09:26 | 3674941 HardAssets
HardAssets's picture

Congress too, of course.

Thu, 06/20/2013 - 08:20 | 3674701 The Devil
The Devil's picture

I'm just getting started...

Thu, 06/20/2013 - 12:15 | 3675538 prains
prains's picture

I just sharted

Thu, 06/20/2013 - 08:21 | 3674703 Atlantis Consigliore
Atlantis Consigliore's picture

the Monkee to Ben:  "YOU RE FIRED."    

Thu, 06/20/2013 - 08:40 | 3674771 SillySalesmanQu...
Thu, 06/20/2013 - 08:21 | 3674705 JJSF
JJSF's picture

I like Grant's stuff. But he is wrong here.

The p/e of the market after this correction and given the growing energy boom and it's consequences for manufacturing and the supported peripheral industries involved and transporting gas, liquifying gas, oil etc is not overvalued. Also, Keep in mind that every central bank in the world is now openly buying equities and this will not stop until it's time to pop that bubble and start over. We will rally from here

Thu, 06/20/2013 - 08:27 | 3674732 YC2
YC2's picture

Thanks a lot, this insanity gave me a good chuckle this morning.

Thu, 06/20/2013 - 08:22 | 3674706 negative rates
negative rates's picture

Be fore warned, it a liquidity TRAP!

Thu, 06/20/2013 - 08:24 | 3674712 Dr. Engali
Dr. Engali's picture

It's articles like this that tell me it's not over. When Mark Grant and Graham Summers start waving their arms frantically screaming "it's over"....its not over. When it's over there won't be any " market participants" because the markets won't be there.

Thu, 06/20/2013 - 08:23 | 3674718 Bobbyrib
Bobbyrib's picture

IMHO, it's a head fake. Why would the Fed pump the market to ridiculous levels then allow it to plummet? It would destroy its credibility with the average sheeple. Within two weeks Bernanke will take back the QE tapering.. All of us ZHers know it is hurting the real economy, but that will not stop the Fed. The Fed is the markets and the markets can not go into free fall.

Thu, 06/20/2013 - 08:27 | 3674731 LawsofPhysics
LawsofPhysics's picture

Well at least not until they have complete power and control (which is what this is all really about) of the assets and resources they want.  There is something much more sinister behind all this, history is very clear on this point.

Thu, 06/20/2013 - 09:07 | 3674877 Doctor of Reality
Doctor of Reality's picture


People are getting caught up in a game of checkers, while TPTB are playing chess.... soon to be followed by dominos.

Thu, 06/20/2013 - 08:36 | 3674756 fonzannoon
fonzannoon's picture

Okay Goddammit Everyone Huddle Up! You guys are a mess out there. Forget the huddle, back to the bench and pick up the Goddamm playbook and look at it! Look at it! What does it say? What does it say!

It says create the illusion of growth. We did that. Then what does it say? It says announce the withdrawal of stimulus. Then we let interest rates rise to validate the illusion of growth. Everything is going to plan. Yes grandma and her bond fund are dead and several gold bulls are now instutionalized, but that was collateral damage and we knew it.

So now what? Now we take the victory lap. Who knows how long it will take. months? maybe a few years? Probably not.

Once we are all convinced we are back to normal then in the 4th quarter we have the big fuckin thing that no one saw coming that smashes the markets and we come running back in with massive stimulus. Now get back out there and get your heads outta your asses!

Thu, 06/20/2013 - 09:02 | 3674855 kito
kito's picture

thanks coach!!! ;)

Thu, 06/20/2013 - 08:49 | 3674803 mofreedom
mofreedom's picture


Thu, 06/20/2013 - 09:04 | 3674866 flapdoodle
flapdoodle's picture

Could well be a head fake - but like Chernobyl, the Bernanke may find out that the controls aren't responding anymore. Many were expecting tapering and that is what they interpreted - but the great unwind could well  be irreversible, so QE4 may not work...

Thu, 06/20/2013 - 08:26 | 3674722 Debugas
Debugas's picture

Those in debt have no money to repay their debts

but not everyone is in debt

so deflation can not go down to zero but there will be many dead bodies on the way down



Thu, 06/20/2013 - 08:32 | 3674745 LawsofPhysics
LawsofPhysics's picture

There is no such thing as deflation.  You are being fooled by progressive language, stop using it.  No society or currency has ever collapsed or died because their purchasing power was too strong.

Thu, 06/20/2013 - 08:40 | 3674766 KidHorn
KidHorn's picture

I think the Japs would disagree.

Thu, 06/20/2013 - 08:46 | 3674786 LawsofPhysics
LawsofPhysics's picture

Bullshit.  What has the price in yen for food and fuel been over the last 5, 10, 15, or 20 years in Japan?  Are you retarded?  Do you not expect to live more than 20 years?  The problem with your debtor/deflation thesis is that those debtors still need to be fed and kept warm.  You would only get true deflation if those debtors were to be "disappeared".  Likewise, inflation is "low" only if you believe people/economies don't require food and fuel (calories) to actually run.  Wake the fuck up and hedge accordingly.

Thu, 06/20/2013 - 08:42 | 3674728 aleph0
aleph0's picture

Bubbles don't "unwind" , they CRASH.

..." the message was quite clear; we are going to unwind what we have we have done. " ... in "Rollover" :


Thu, 06/20/2013 - 08:27 | 3674730 therearetoomany...
therearetoomanyidiots's picture

Meh, this I fear is just 'shaking the tree' to get some more easy money out of weak investors.   

This I fear will be no bigger than Snowden's uncovering of the NSA spying 'scandal'.  

Heads WON'T roll and the rich will get richer.  

Thu, 06/20/2013 - 08:29 | 3674736 Bobbyrib
Bobbyrib's picture

Next headline: Goldman Sachs tells its clients to sell everything not nailed down. That will confirm that Bernanke was bullshitting yesterday.

Thu, 06/20/2013 - 08:34 | 3674749 therearetoomany...
therearetoomanyidiots's picture

One must wonder, though, that perhaps what a 'crash' brings is deflated 401ks...which means the government has to come in and provide a nationalized pension plan which will start with confiscating everyone's 401k and 'redistributing' it in a defined benefit plan?  Hmmmm....always watch what the other hand is doing...

Thu, 06/20/2013 - 08:38 | 3674759 LawsofPhysics
LawsofPhysics's picture

In countries/states/cities with a relatively unarmed/untrained populace that might work.  For countries/states/cities with a large number of recent veterans or active volunteer military personnel, not so much.

Thu, 06/20/2013 - 08:44 | 3674780 therearetoomany...
therearetoomanyidiots's picture

I hope you both are right...but the way things have fallen out with NSA spying, IRS intimidation, the way the market flies up at overwhelmingly poor market data...I have to wonder.   But, in fact, I pray you both are right.

Thu, 06/20/2013 - 08:38 | 3674762 Bobbyrib
Bobbyrib's picture

Yeah, but even the sheeple will wake up when they have been sheared yet again and the "End the Fed" movement will pick up even more steam.

Thu, 06/20/2013 - 08:31 | 3674739 horot
horot's picture

YES!! More rout please!

Thu, 06/20/2013 - 08:30 | 3674740 SillySalesmanQu...
SillySalesmanQuestion's picture

We here have been head faked, swivel hipped and cross-over dribbled so many times by the Kevin Henry's and Plunge Protection Team that some are doubtful that we would ever see the light at the end of the tunnel.....let round 1 of this sorry escapade begin,hopefully with a KO to the FED   :)

Thu, 06/20/2013 - 08:32 | 3674743 gatorengineer
gatorengineer's picture

Look for China to start to print, good for a 5% pop, look for Europe to also go full retard good for 10% pop, and look in august/sept for the fed to go to 120..... 

They have plenty of paper and ink left, it wont be a smooth ride down...


Closing DUST at 119, still looking for 75 on EDZ.....


Thu, 06/20/2013 - 08:35 | 3674752 Smuckers
Smuckers's picture

Conversation at the Fed:

Hey....there's no more tape-paint in the bucket!

Open the red ones.

Thu, 06/20/2013 - 08:41 | 3674758 KidHorn
KidHorn's picture

This whole thing is overblown. The FED will spend a little less each month and then when everything goes to hell, they'll resume. Maybe there won't be enough MBS and T-Bills to buy so they'll add other types of debt securities to their portfolio. Eventually the FED will own corporate junk bonds and municipal bonds.

Thu, 06/20/2013 - 08:45 | 3674789 therearetoomany...
therearetoomanyidiots's picture

What a great way to 'prove' that market manipulation by the fed 'works'.

Thu, 06/20/2013 - 11:56 | 3675500 tvdog
tvdog's picture

There's a problem with timing. The Fed has to time things perfectly, otherwise the result is crash -> depression -> print -> stagflation -> print moar -> hyperinflation (rather than recovery).

Thu, 06/20/2013 - 08:39 | 3674765 involuntarilybirthed
involuntarilybirthed's picture

We did'nt get much mileage out of that short lived wealth effect. 

Sad when 401k/IRA working Americans go to work then come home to see that Bernanke merely moves his lips and sucks the live out of them again.   Why don't he just do what he has to do and STFU.  He should be censured.

????Bernanke talk out of wack with Fed statement??????  Why the difference????

Thu, 06/20/2013 - 08:40 | 3674767 Uncle Zuzu
Uncle Zuzu's picture

Too many bears out there.  We're probably going to rise another 15% in the next 12 months, just to annoy everyone.

Thu, 06/20/2013 - 08:39 | 3674768 hankwil74
hankwil74's picture

BTFD!  Oh wait, you have no money left because you've been BTFDs since gold was $1900.  Don't worry, it's only paper gold being sold... I'm sure you can still sell your physical for $1850/oz

Thu, 06/20/2013 - 08:42 | 3674775 fonzannoon
fonzannoon's picture

Hank debts don't matter right?

Thu, 06/20/2013 - 08:48 | 3674799 hankwil74
hankwil74's picture

Of course debts matter.  But so does profit and growth.  In a QE situation when assets are pumped up, doesn't it make more sense to put your money in companies that make profits, or in the stock market as a whole and to ride the wave.  Even in the event of a crash, say 10% in a day, you can still get out for a large profit.  And it's very hard to manipulate on a large scale.  But these gold bugs are putting their money in a metal that produces no returns and is easily manipulated, and then crying when it gets manipulated.

Thu, 06/20/2013 - 08:52 | 3674822 fonzannoon
fonzannoon's picture

What happens when the debts get so big it's the dollar that crashes Hank?

Or is that still unimaginable?

Thu, 06/20/2013 - 08:55 | 3674833 LawsofPhysics
LawsofPhysics's picture

You only get growth if you have excess energy to burn. Let me guess, you don't think there is inflation either?  That is only true if you think people and eCONomies don't require food and fuel (calories) in order to run, much less grow.

Tell us, what's has the price in dollars for food and fuel been over the 5, 10, 15, 20, or 25 years?  Are you retarded?  Do you not expect to live more that 25 years?  Troll harder loser.  Ignore "prices" in fiat money.  fiat money is an illusion, this has always been about power and control over assets and resources of real value.

Thu, 06/20/2013 - 09:02 | 3674854 hankwil74
hankwil74's picture

In the event of inflation, wouldn't you rather have your money in a company? Even if inflation is 14%, profits should grow at the same rate.

Thu, 06/20/2013 - 09:52 | 3675016 Debugas
Debugas's picture

prices were going up because banks were pumping the money into economy through the process known as consumer credit. Now it has stopped (because consumer is highly in debt and can not be loaded with any more debt)

Thu, 06/20/2013 - 08:59 | 3674847 Bobbyrib
Bobbyrib's picture

MDB, is that you? When someone manipulates the market higher by pumping it with liquidity, the last thing a non-Keynesian would want to do is buy into this stock market bubble.

Thu, 06/20/2013 - 08:52 | 3674824 kito
kito's picture

sorry fonz, but i told you.....the moneymen still pray to ben statues.....................debts dont matter because they fully believe that growth will catch up to the debts......if ben is pushing rates higher....they BELIEVE its for the right reasons..............ben is still the motherfuckingman...................on the flip side, this really isnt a test for gold.....a true test for gold comes with negative sentiment.........when some acute event sets off an avalanche........then we will see if gold is the safe haven....or cash..........................

Thu, 06/20/2013 - 08:58 | 3674843 fonzannoon
fonzannoon's picture

They do man. As you can see from my posts this am, I agree with you. The game continues for now, even at these higher levels.

I will tell you this, I think, eventually you are going to regret  squandering the gigantic gift that has been bestowed upon you. Most of us on here chased these metals up to higher levels and are now miserable. You onthe other hand have watched your cash temporarily enable you to buy these assets at lower levels (other than the gold at $300 crowd).

I think if they keep playing this game the dollar will strengthen even more from here. I hope you take this time to put that cash to work. Because circumstances will change.

Thu, 06/20/2013 - 08:40 | 3674769 razorthin
razorthin's picture

The wheels off the bus go round and round

Thu, 06/20/2013 - 08:41 | 3674772 Hannibal
Hannibal's picture

TWA-800 blow out of the sky in 1996, CIA: "IT WAS NOT A MISSLE".

Must have been a missile.

Thu, 06/20/2013 - 09:33 | 3674964 Dapper Dan
Dapper Dan's picture


Jim Speer, an accident investigator at the time of the crash for the Airline Pilots Association, who sifted through the recovered wreckage in a hangar, said he discovered holes consistent with those that would be formed by a high-energy blast in the right wing. He requested it be tested for explosives. When the test came back positive, he said, he was "physically removed" from a room by two CIA agents.

After a four-year investigation, the NTSB concluded the plane was destroyed by a center fuel tank explosion likely caused by a spark from faulty wiring. But according to Tom Stalcup, a co-producer of the documentary, the film presents new "radar and forensic evidence proving that one or more ordnance explosions outside the aircraft caused the crash." The film will premiere on EPIX on July 17, the 17th anniversary of the disaster.

"These investigators were not allowed to speak to the public or refute any comments made by their superiors and/or NTSB and FBI officials about their work at the time of the official investigation," a news release announcing the documentary said. "They waited until after retirement to reveal how the official conclusion by the (NTSB) was falsified and lay out their case."

Thu, 06/20/2013 - 08:44 | 3674785 Bully
Bully's picture

Hey gold bugs, how are hurt butts this morning? 

Thu, 06/20/2013 - 08:49 | 3674804 LawsofPhysics
LawsofPhysics's picture

Wake me when it's under $300 an ounce.  That's the dollar cost average on my physical holdings.  And surprisingly, all those ounces are still there.

Troll harder loser.

Thu, 06/20/2013 - 09:14 | 3674908 Bully
Bully's picture

Yup I believe you ;)

Thu, 06/20/2013 - 08:50 | 3674814 wisehiney
wisehiney's picture

Yeah, puke that gold all over me, silver too, thanky, thanky!

Thu, 06/20/2013 - 08:48 | 3674797 kito
kito's picture

The Fed has signaled its intentions very clearly. You should be taking profits, taking money off the table and building up your cash positions. Your supplier of opiates has just informed you that your drugs are going to get cut off and preparations need to be made because there is no other supplier of this opiated cash. You can accurately think of the world's central banks as a "cash cartel" and the distribution is being ended......


wow, grant, you are a fucking genius!!!! did you figure this out on a napkin at Sparks steakhouse???? 

Thu, 06/20/2013 - 08:50 | 3674810 LawsofPhysics
LawsofPhysics's picture

No shit, several of us and ZH in general figured this out about two months ago kitco.

Thu, 06/20/2013 - 08:54 | 3674831 kito
kito's picture

how does tyler keep this nimrod as a contributor? really? 

Thu, 06/20/2013 - 09:12 | 3674900 fonzannoon
fonzannoon's picture


Thu, 06/20/2013 - 08:50 | 3674815 Mr Bluesman
Mr Bluesman's picture

 I am probably in the minority, but I hope that this really is the end and the Fed turns off the taps and the bubble bursts.

My life and career are already mostly fucked, along with whatever pension I had from when I was in industry. But I have three Sons under 18 who might stand a chance of a much better life if we can get back to a system of sound money, sensible earnings/housing ratios and low household debt.

That cannot happen until the losses are taken. That's gonna be a whole world of pain.

Thu, 06/20/2013 - 09:03 | 3674859 Bobbyrib
Bobbyrib's picture

Those Treauries that mature is twenty years are going to be toilet paper once interest rates rise as the Fed bought at the artificially low rate. Perhaps they can offload them to a foreign government.

Thu, 06/20/2013 - 09:04 | 3674861 Mr Bluesman
Mr Bluesman's picture

Well that puts a month's money on the table - but is it not possible that they are giving the market a bit of a warning before they gently reduce the flow?

Thu, 06/20/2013 - 09:00 | 3674850 hugovanderbubble
hugovanderbubble's picture


Thu, 06/20/2013 - 09:03 | 3674860 LawsofPhysics
LawsofPhysics's picture

Interesting domino to fall...

More links please, watching the price of sugar cane very closely for several reasons...

Thu, 06/20/2013 - 09:53 | 3675022 Its Only Rock N Roll
Its Only Rock N Roll's picture

So if the Fed actually had to mark to market like everyone much have they lost on their UST and MBS portfolio over the past 45-50 days???  Irrelevant I know but quite a staggering number. 

Many are giving BB too much credit here that he has control of this.  More QE REMOVES liquidity from the financial system by extraction of what is left of good collateral.  Less QE...well you see what poeple think about that yesterday and today. 

He who panics first panics best. 

Thu, 06/20/2013 - 10:49 | 3675210 ItsDanger
ItsDanger's picture

I always laugh at the notion of 'pumping' money into the system.  For the vast majority, there was nothing gained by this 'pumping' at all.  Buying bank assets so they could lend more out?  If that is your big economic weapon, its a lost cause.

Thu, 06/20/2013 - 18:14 | 3677072 badger10
badger10's picture

Well double tops holds in and correction is in play. Rallies will occur but technically rallies should be sold.

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